Businesses urged to apply for share of £4.35m growth funding as deadline looms
Coventry and Warwickshire is working with Innovate UK to enable further funding to drive innovation and business growth in the local Immersive & Creative technology cluster.
- New Innovate UK funding and support now available for innovation and business growth
- Tailored towards Coventry and Warwickshire’s strengths in Immersive & Creative technology developments
- Funding support available from £25k to £1m
Innovative businesses in north Warwickshire are being urged to apply for pivotal funding before the deadline closes.
Up to £4.35 million has been made available for businesses in Coventry and Warwickshire through Innovate UK’s Launchpad programme for the region.
The Coventry and Warwickshire Launchpad has been developed through a partnership between Innovate UK, the national innovation agency, Warwickshire County Council, Coventry City Council and the West Midlands Combined Authority.
Dozens of businesses across Coventry and Warwickshire have already applied for funding, but the partnership is keen to see more applications from the north of the county. Businesses in North Warwickshire and Nuneaton & Bedworth, in particular, are being encouraged to tap into the funding before December 11, the closing date for applications.
In this latest round of funding, projects must focus on immersive and creative industries which will increase investment in research and innovation and contribute to growing businesses and boosting the local economy.
These projects could include developing and applying technologies such as digital and mixed media, augmented and virtual reality, game engine and virtual production including 3D environments, simulations and data visualisations or motion capture including performance capture and gesture and facial recognition.
As part of the Immersive and Creative Technologies Launchpad programme, businesses can apply for MFA grant funding between £25k and £100k. Larger-scale collaborative research and development projects can apply for between £150k and £1m as part of a consortium.
Businesses can find out more and apply at https://iuk.ktn-uk.org/programme/launchpads/.
The Launchpad programme is funded by Innovate UK, part of UK Research and Innovation. It is designed to build on innovation clusters around the UK that have significant growth potential and to deliver jobs, growth and higher productivity.
Through the programme, Innovate UK has already awarded Coventry and Warwickshire more than £3 million for support and networking opportunities to help businesses to innovate, grow and scale-up.
Councillor Martin Watson, Portfolio Holder for Economy at Warwickshire County Council, said: “Coventry and Warwickshire are renowned for innovation which drives forward our economy and creates jobs.
“This latest Launchpad competition demonstrates our strength at fostering innovation to enable talented entrepreneurs to expand their businesses and take on more highly-skilled staff to meet our county’s sustainable and inclusive ambitions.
“We have received a significant amount of applications and there’s still time for more to come in, particularly from north Warwickshire where we know there is a thriving community of immersive and creative technologies companies.
“With the deadline now looming, we would like to remind these businesses that if they want to access this type of targeted financial support they must act quickly and apply before the closing date.
“This Launchpad funding will give businesses the opportunity to make the most of their talents and build on our sub-region’s reputation for attracting inward investors as well as our commitment to long-term economic stability.”
Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, added: “We all know that innovation and the effective adoption of new technologies will be fundamental to growing our economy and creating the jobs of the future.
“It is something Coventry and Warwickshire has repeatedly excelled at, and this news will be a great boost to businesses.
“We have seen some exciting projects awarded funding through the first two rounds of the scheme from a wide range of businesses doing great things with creative technologies.
“This new round will provide local businesses - either in Creative Industries or working with creative or immersive technologies - with an excellent opportunity to access funds for developing new products or services that will accelerate their growth.
“We need to encourage local businesses to look at this opportunity and the information on the government website. I really hope that lots consider applying.”
If you would like further support with your application or want to find out what other business support is available locally, contact the Coventry and Warwickshire Growth Hub https://www.cwgrowthhub.co.uk/
